NEAR (NEAR Protocol): Channel DownTrade setup : Price is in a Downtrend, trading in a Channel Down pattern. Swing Traders : can trade the Channel - enter near channel support and exit near channel resistance. Trend traders : wait for price to break out of the Channel Down pattern, back above 200-day moving average and $6.00 resistance to signal bullish trend reversal, with +30% upside to $7.70 thereafter.
Pattern : Price is trading in a Channel Down pattern. With emerging patterns, traders who believe the price is likely to remain within its channel can initiate trades when the price fluctuates within its channel trendlines. With complete patterns (i.e. a breakout) - initiate a trade when the price breaks through the channel's trendlines, either on the upper or lower side. When this happens, the price can move rapidly in the direction of that breakout. Learn to trade chart patterns in Lesson 8.
Trend : Short-term trend is Strong Down, Medium-term trend is Strong Down and Long-term trend is Strong Down.
Momentum is Bullish but inflecting. MACD Line is still above MACD Signal Line but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum could be nearing a downswing. Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70).
Support and Resistance : Nearest Support Zone is $3.50, then $3.00. Nearest Resistance Zone is $4.40, then $6.00.
NEAR
Aug 17Overview:
The cryptocurrency market is currently in a cautious phase. Weekends typically see minimal price swings, though Sunday evenings can bring volatility. Declining open interest suggests a lack of confidence, with traders closing positions and exiting the market. The August 5th liquidations also pushed remaining traders to leave, further reducing market participation. This environment points to continued consolidation, with potential for volatility as the weekend ends.
Looking back at BTC’s weekend price action, similar patterns emerge: a crash, a small rebound, approaching the Bollinger Bands moving average (BB MA), and then continued decline. Bearish scenarios include January 15-16, 2022; June 5-6, 2022; and more recently, June 29-30, 2024. A bullish argument is found in May 11-12, 2024, when Saturday and Sunday marked the end of the first bull wave and the start of the second in 2024. However, that was 33 days after the downturn began, while we are currently at day 20.
This past week may have been the calm before the storm.
Alts Relative to BTC: No divergences.
Bull Case: Everyone who wanted to sell has likely sold. Now we wait for an event to trigger a buying spree that could draw a 4th wave on the CRYPTOCAP:BTC chart.
Bear Case: No bulls come to the rescue, and the market drops further.
Fear and Greed Index: 44.9, rising over the last two days, but given the weekend, it may not carry much weight.
W: Range trading, no divergences.
D: Reached BB MA and is touching it at $59.9k.
4h: Approached $60.2k for the second time but couldn’t break that daily level. We’re also at the top of the Bollinger Bands range, which is relevant for those trading sideways movements. No divergence.
1h: No divergences, but there’s a bullish inverted head and shoulders pattern.
Prediction: Most likely move down significantly, or range trade, then decline.
Opportunities:
CRYPTOCAP:SOL : Attempting to break the weekly resistance level.
NYSE:SUI : Bounced from support and is now trending upward.
NYSE:AR and CRYPTOCAP_OLD:RNDR : Sitting on the weekly level; their next move will be quick, so choose your side.
Follow for daily updates.
First 100 followers receive free market analysis and signals subscription.
Aug 16Overview: The TradFi week is over, and the VANTAGE:SP500 is now just 1.86% away from its all-time high, nearly recovering from the impact of Japan's rate increase. However, CRYPTOCAP:BTC hasn't experienced the same positive price action. It seems big money is feeling more confident in U.S. blue chips than in speculative assets like Bitcoin. So, who will push BTC to $100k? Maybe not this time. Last week, we saw a crash followed by a recovery, but this week the market remained stagnant. It seems to have found a range between $55.9k and $63.1k and might bounce within this range a few more times.
Alts Relative to BTC: On August 16th, CRYPTOCAP:BTC grew by 1.70%, but CRYPTOCAP:ETH only by 0.83%, while CRYPTOCAP:SOL dropped by 2.45%, AMEX:NEAR by 1.32%, AMEX:APT by 5.10%, and UPCOM:FTM by 4.59%. As of now, CRYPTOCAP:BTC has continued to grow, but alts haven't recovered at all. It appears that both whales and retail investors (but mostly whales) don't have much faith in an altcoin summer, which also puts CRYPTOCAP:BTC on shaky ground.
Bull Case: We're still trading within a range and haven't touched the $63.1k resistance for a second time. The VANTAGE:SP500 continues to grow along with the economy, with expectations of four rate cuts ahead.
Bear Case: But with September approaching, some big players will re-enter the market. Historically, September has often seen more stock market declines than gains.
Fear and Greed Index: 43.62, slightly higher.
W: Range trading.
D: Neutral, no divergences.
4h: Even though we've recovered to the highs of August 15th, volume is weak, and we haven't broken through $59.7k.
1h: Divergence. We've hit this resistance for the third time.
Follow for daily updates.
First 100 followers receive free market analysis and signals subscription.
NEAR ProtocolThe bullish wave from Oct '23 was expected to be more impulsive than the actual wave which occurred. I suggested it to be a corrective bullish wave, and that brings the bigger picture to be a possible triangle.
The invalidation of the idea is <$0.97
The bullish cancelation of the idea is surpassing $8.5
Alikze »» NEAR | C wave correction leg🔍 Technical analysis: C wave correction leg
- It is moving in a descending channel in daily and weekly time.
- At the last stage of correction, it can extend to the area of the bottom of the channel and the green box.
- Therefore, considering that it has faced selling pressure in the middle of the channel, if the supply zone does not fail, the correction will continue up to the specified zone and Fibo 1.618.
- The range of 2.479 to 2.768, if faced with demand, can provide a suitable area for buying and a return to the middle of the channel.
- This zigzag correction, if it is not combined and complex, can continue the upward trend after completing the last corrective leg, according to the behavioral scenario presented in the previous post.
💎 Alternative scenario: In addition, if it can meet the demand in the middle of the channel, it can have a temporary growth up to the ceiling of the supply range of the channel.
»»»«««»»»«««»»»«««
Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future.
Thanks for your continued support.
Best Regards,❤️
Alikze.
»»»«««»»»«««»»»«««
BINANCE:NEARUSDT
Aug 14Overview:
The market is currently at a stalemate, which isn’t surprising after last week’s 15% crash. Since 2009, CRYPTOCAP:BTC has only experienced a drop of more than 15% around 10 to 15 times. We’re receiving contradictory macroeconomic news: on one hand, predictions of a long-awaited recession in the U.S. are surfacing, with major corporations reporting diminishing returns and U.S. consumers already feeling the pinch, as grocery prices have jumped by 50-70%. On the other hand, Lord Jerome reports the year-over-year CPI at 2.9%, lower than the expected 3.0%.
BTC ETF flows reported $81 million in selling, indicating that ETF investors aren't interested in BTC at 58.5k. However, just two days earlier, there was a positive flow totaling $66 million.
Demand for NYSE:SUI via Grayscale has stalled, with a 20% decline from recent highs in the last two days, although it's still up 44% since the August 8th news. GETTEX:TAO , on the other hand, has only seen about one-sixth of that demand, rising just 7% to date. Is this the cost of not being listed on Coinbase?
Alts Relative to BTC:
No divergence observed. CRYPTOCAP:ETH , CRYPTOCAP:SOL , and AMEX:NEAR mirrored BTC’s correction of 5.22%, each declining by 6-7%.
Bull Case:
The S&P 500 continues to climb, nearing previous levels (only 3.81% away from its all-time high after a 9.44% drop). Jobless claims numbers came in lower than expected, signaling improving economic conditions and possibly taking a recession off the table. Global liquidity has stabilized over the last three days.
Bear Case:
None of the above factors support risky asset prices, and BTC loses its ETF demand support, potentially plummeting to 41.2-43.8k.
Fear and Greed Index:
42.9, decreasing and edging toward Fear territory—where long red candles and even longer wicks reside.
W:
Mid-range, in accumulation territory, curving downward. While last week’s crash candle ended green, this week has shown a lower high and may close below the opening, potentially turning red. Only 3.54% separates us from the weekly support level, which could be tested in the next four days. No divergence.
D:
On August 14th, BTC touched the BB MA and bounced down, closing in red and re-entering the previously established $60.2k - $58.2k daily range. However, on the 15th, it already broke out of that range and may close outside of it. If the 15th closes in red, this week could be in trouble, opening the door to a drop toward 56k.
4h:
After rejecting 61.7k, BTC crashed through the BB MA. This -5.5% correction was accompanied by a significant MACD divergence. To continue the existing trend, a bounce back up with bullish demand was needed, but no buyers stepped in, and the next 12 hours saw continued decline, currently trading slightly below the 58.2k daily level.
1h:
A red candle at 2am on August 15th showed a dangerous increase in volume compared to the previous two red candles. With U.S. bulls sleeping, there may be no support at this level, risking a free fall.
Prediction:
With the lack of support from Asian bulls, we are likely to fall below 58k, and only unexpectedly positive news from Jerome Powell might keep BTC within the daily range, above 58k.
Opportunities:
CRYPTOCAP:SOL : Dropped below the weekly support level of $146.3 and seems to be declining, solidifying it as a new resistance. Opportunity to short to $130 (7.94%).
AMEX:NEAR : Retreated from the weekly level of $4.39 and is on its way to $3.3 (19%).
NYSE:SUI : Rejected the weekly level of $1, with the next stop at $0.8 (-10%), which coincides with the BTC ETF demand level.
AMEX:APT : Rejected the weekly level.
NYSE:AR : Holding on by a thread above a 58% abyss to the BTC ETF level, with no intermediate stops.
NYSE:ENS : Expected to mirror ETH's performance, potentially doubling whatever CRYPTOCAP:ETH does.
Mistakes:
Yesterday’s 4h BTC divergence became apparent at noon (UTC-4, NY time) after a red candle appeared. As of now, at least 2.40% could have been captured.
Follow for daily updates.
First 100 followers receive free market analysis and signals subscription.
NEARUSDT.1DNEAR/USDT has shown a volatile price movement since the start of 2024, with a significant rise followed by a series of corrections. As of the latest data, NEAR is trading around $5.709. The chart displays a descending triangle pattern, characterized by a flat support line at approximately $4.253 (S2) and a downward sloping resistance line.
Technical Analysis:
Support Levels (S1 and S2):
S1: The first support level at $5.150 has been tested multiple times since early July 2024 and has shown resilience. This is a crucial area as a consistent breakdown below this level could push prices towards the second support.
S2: The second support level at $4.253 represents a more significant low from late May and early June 2024. A break below this could signal a strong bearish trend.
Resistance Levels (R1 and R2):
R1: The first resistance level at $5.961 marks the recent peaks. Overcoming this resistance might lead to testing the upper resistance.
R2: The second resistance at around $6.500 corresponds to the descending trendline. A break above this level would be crucial and could indicate a potential reversal or pause in the prevailing downtrend.
Moving Average Convergence Divergence (MACD):
The MACD line is just above the signal line, indicating a weak bullish momentum. However, the histogram is very close to the zero line, suggesting a lack of strong momentum in either direction.
Relative Strength Index (RSI):
The RSI stands at 57.18, indicating neither overbought nor oversold conditions. This level suggests a balance between buying and selling pressures but leans slightly more towards buying momentum.
Conclusion:
Currently, NEAR/USDT is in a critical phase. The presence within a descending triangle pattern usually indicates potential downward pressure. For traders, key strategies would involve watching for a decisive break either above the R1 or below S2 for clearer directional bets. Holding positions may be risky without tight stop losses, especially near these critical levels. In the event of breaking above R1, consider re-evaluating the resistance at R2, as a breakthrough there could shift the market sentiment more positively. Always ensure risk management practices are in place, given the inherent volatility in cryptocurrency markets.
NEAR (Near Protocol): Resistance BreakoutTrade setup : Price broke back above the 200-day moving average (~$5.46), which signals resumption of Uptrend. It's also broken above $6.00 resistance, making a higher high, a sign of uptrend. Price could revisit $7.70 next. We would be buyers on pullbacks to support zone between 200-day moving average of $5.50 and $6.00. Stop Loss at $5.10. Price could revisit $8.00 thereafter.
Pattern : Resistance Breakout . Once a price breaks above a resistance zone, it signals that buyers have absorbed all the supply from sellers at this level and price can resume it's advance. Following a resistance breakout, the next closest resistance zone becomes a price target. Learn to trade key level breakouts in Lesson 7.
Trend : Short-term trend is Up, Medium-term trend is Up and Long-term trend is Strong Down.
Momentum : Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70).
Support and Resistance : Nearest Support Zone is $4.60, then $3.50. Nearest Resistance Zone is $6.00, then $7.70.
Trade Setup: NEAR Long PositionMarket Context:
NEAR is trading above the 200-day EMA, setting a higher low after a change of character (CHOC).
The price has reclaimed the range low as support and is trading between the 200-day and 21-day EMAs.
This setup indicates a potential for consolidation followed by a breakout.
Trade Parameters:
Entry: Enter a trade around $5.4 to $5.8.
Take Profit:
First target: $6.5
Second target: $7.46
Third target: $8.4
Stop Loss: Set at a daily close below $5
📊 Monitor the 4-hour chart for a breakout to confirm the trade. Adjust the trade based on market conditions and stay vigilant for any signs of reversal or further consolidation. #NEAR #CryptoTrading #TradeSetup 🎯
NEAR (NEAR Protocol): Resistance BreakoutTrade setup : Price broke back above the 200-day moving average (~$5.46), which signals resumption of Uptrend. It's also broken above $6.00 resistance, making a higher high, a sign of uptrend. Price could revisit $7.70 next.
We would be buyers on pullbacks to support zone between 200-day moving average of $5.50 and $6.00. Stop Loss at $5.30. Price could revisit $8.00 thereafter.
Pattern : Resistance Breakout . Once a price breaks above a resistance zone, it signals that buyers have absorbed all the supply from sellers at this level and price can resume it's advance. Following a resistance breakout, the next closest resistance zone becomes a price target. Learn to trade key level breakouts in Lesson 7.
Trend : Short-term trend is Up, Medium-term trend is Neutral and Long-term trend is Strong Down.
Momentum is Bullish but inflecting. MACD Line is still above MACD Signal Line but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum could be nearing a downswing. Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70).
Support and Resistance : Nearest Support Zone is $4.60, then $3.50. Nearest Resistance Zone is $6.00, then $7.70.
NEAR protocol on the WEEKLY NEAR is a project that covers all the bases. A Web3 Layer 1 with the capability for unlimited transactions per second (TPS) that's transparent and accessible to everyone. NEAR protocol has begun venturing into the AI space pushed by Co-Founder Illia Polosukhin who is an AI researcher himself, with an AI marketplace as he believes AI is one of the core verticals for the NEAR ecosystem going into the future.
The near chart is a promising one for the future. Having already experienced the 2022 altseason, we can gauge where NEAR will meet resistance, and sellside pressure areas and of course previous ATH. Using Fibonacci levels combined with range quarters we can split up an otherwise daunting chart into sections of a large range. Since the rally began in the beginning of 2024 price has broken above the 0.75 line and has been retested for support, of which it held and is now key support. With BTC's rally on the recent CPI numbers, the stronger altcoins followed suit and now NEAR is targeting the MIDPOINT of the range at $10.72 (0.5 level). From then on there is a clear FVG resistance before hitting the highs.
I have used the Fib levels as long term Take Profit areas, who knows how long it may take to get there or even if we get there at all. However the fundamentals of the Project are very strong, with a great team and expanding into high interest narratives like AI all add up to a very promising project. The one downside is that circulating supply is not capped and will grow at 5% each year. Therefor the tokenomics are not as favourable to investors as for example Injective INJ which has a capped at 100,000,000 coins and currently has 94% of that circulating and that limits dilution of token value.
I'm very bullish on NEAR in the long run, the current LTF bearish pullback has been punishing for the majority of alts however NEAR has held up very well. The AI narrative backing it as well will surely help it progress and the accessibility of being available on all the major exchanges.
Trade Setup: NEAR Long PositionMarket Context:
NEAR is part of the newly formed Grayscale Decentralized AI Fund and has shown significant relative strength. However, the rapid rise suggests a potential throwback.
Trade Parameters:
Entry: Enter the trade around the support level of $5.7.
Take Profit:
First target: $6.6
Second target: $7.5
Third target: $8.4
Stop Loss: Place the stop loss just below $5.2.
📊 Monitor the price action for confirmation of support levels and be prepared to adjust based on market dynamics. #NEAR #CryptoTrading #TradeSetup 🎯
NEAR - A quick long trade for the continued trend.#NEAR/USDT #Analysis
Description
---------------------------------------------------------------
+ The trend that began after hitting the support zone is continuing, and we can expect it to reach the resistance zone soon.
+ This presents a quick trade opportunity.
---------------------------------------------------------------
VectorAlgo Trade Details
------------------------------
Entry Price:5.534 - 6.254
Stop Loss: 4.986
------------------------------
Target 1: 6.816
Target 2: 7.624
Target 3: 9.019
------------------------------
Timeframe:1D
Capital Risk: 1-2% of trading amount
Leverage: 5-10x
---------------------------------------------------------------
Enhance, Trade, Grow
---------------------------------------------------------------
Feel free to share your thoughts and insights.
Don't forget to like and follow us for more trading ideas and discussions.
Best Regards,
VectorAlgo
Is NEARUSDT About to Skyrocket? Critical Levels You Can't Miss!Yello, Paradisers! Have you been keeping an eye on #NEARUSDT lately? If not, now's the time to pay attention.
💎#NEARUSDT is currently trading within a demand zone, raising the high probability of a bullish move. The token has been following a descending resistance trajectory for a while. Now, it's showing strong momentum within this demand zone. If #NEARPROTOCOL continues to sustain this momentum, it may target the key resistance level at $5.624.
💎If #NEARUSD reaches $5.624, we could see a potential rejection at this resistance level. In this scenario, we'll wait for the price to retest the descending resistance. A successful retest would confirm a strong bullish move. Sustained upward momentum could lead to a breakthrough above $5.624, marking a significant bullish shift.
💎However, what if AMEX:NEAR loses momentum and drops below the previous low? This would invalidate the bullish outlook, potentially leading to a significant price drop.
Stick to your strategy and keep mastering your willpower. Be the 20% that outperforms the rest!
MyCryptoParadise
iFeel the success🌴
Unlocking Hidden Potential: NEAR Technical AnalysisNEAR Technical Analysis
The price has been following a descending trend line(Red) and recently found a major support zone(Yellow) at $4.18 – $4.295. The dotted line at 4.441 is also acting as a good support. After touching this support, the price has bounced back and is currently testing the trend line.
The key resistance zone(Green) is identified around the $5.586 – $5.743, which has acted as a strong resistance zone in the past. The price has struggled to break above this zone multiple times, suggesting it is a significant level to watch.
Potential scenarios
Bullish Scenario
If the price breaks above the descending trend line it could move towards the resistance zone in Green at $5.586 – $5.743.This green zone is major resistance to moving the price upwards. After a breakout from this zone, the price could move toward the next resistance zone in Blue at $6.675 – $6.897.A breakout above this level could indicate a reversal of the downtrend and a possible continuation to higher levels.
Consolidation Scenario
If the price gets rejected at the descending trend line or the resistance zone in Green, it might consolidate between $4.441 and the Green zone. This consolidation phase could last until the market decides on the next significant move. Price could also take support at the Yellow zone and from there it will bounce back according to our analysis.
Bearish Scenario
If the price fails to sustain above the current support level of $4.441, it could lead to a further decline towards the yellow zone at $4.148 – $4.295. If this Yellow zone fails to hold the price then, this would indicate a continuation of the bearish trend.
Volume is also a critical factor to monitor. Increased volume on a breakout above the resistance levels could confirm the bullish scenario, while low volume might indicate a lack of conviction among traders.
NEAR/USDT is at a critical juncture, with key resistance and support levels that will likely dictate the next major move. Traders should watch these levels closely and consider volume trends to gauge market sentiment.
Where is the right price to buy $NEAR?Considering the correction process that we have in mind for altcoins, we expect that AMEX:NEAR can reach the price range of 2$ or slightly below it again.
It seems that the price of 2$ can be a good place to buy, although there is a possibility that if there is a fear in the market that causes the prices to fall, the price will go lower due to excitement and fear selling. but 2$ seems a reasonable price.
I hope to have enough cash for when the price hits $2$.
NEAR is approaching an important resistanceHey Traders, in today's trading session we are monitoring NEARUSDT for a selling opportunity around 5.600 zone, NEARUSDT is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 5.600 support and resistance area.
Trade safe, Joe.
#NEARUSDT Chart UpdateNEAR has reached the support range between $4.08 and $4.75. This level holds important support for NEAR, and a breakdown below this blue SMA will likely drop the price to $3.2 or, in the worst case, $2.5.
On the positive side, NEAR must stay above the support level to rebound and make a bullish rally.
DYOR. NFA.
Like, share, and follow for more.
#NEAR